Minn. House Votes To Match Some Fed Tax Deductions
ST. PAUL, Minn. (AP) — Some recently enacted federal tax deductions could also be extended to Minnesotans filing their state taxes as well.
The Minnesota House on Monday voted unanimously to match some deductions. The catch is that state lawmakers aren't embracing the federal changes across the board.
The bill has a bearing on more than 250,000 tax returns. It includes teachers claiming deductions for education expense, homeowners taking itemized deductions for their mortgage insurance premiums and college students or parents using higher education tuition deductions.
It comes at a cost to state government of $18.5 million. Republicans tried to include more deductions but failed, with Democrats citing the high cost.
The Senate has yet to pass a tax conformity bill.
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